Into thin air: CBA will close all 60 of its ‘bricks and mortar’ branches
Commonwealth Bank subsidiary Bankwest has announced it will close all 60 of its branches across Western Australia by October.
Commonwealth Bank will close all 60 of its 'bricks and mortar' branches of its BankWest subsidiary;
The decision will mean the closure of 28 banks in the Perth metropolitan area, 17 branches in regional WA and the conversion of 15 sites to CBA branches.
“This change enables us to invest in the digital channels the majority of our customers are increasingly choosing to do their banking with us,” the bank said in a statement on its website.
“We’re evolving into a digital bank.”
The bank said it would close its branch network by October, with 15 regional branches converting to CommBank branches by the end of the year.
It said all Bankwest ATMs will also be closing, with the bank no longer operating off-premises machines.
“We recognise this may be difficult news if you or your loved ones bank in branch, or if you feel reassured knowing a branch is nearby. We’re committed to supporting you through this change,” the bank said.
Bankwest spokesperson Scott Spittles said jobs would be offered to all 350 Bankwest staff affected by the closures, the ABC reported.
He said there were about 2000 customers who only used face-to-face banking services and the bank had a “bespoke solution” for them.
“We are reaching out to them individually and bankers will contact them one to one with solutions,” he said.
Finance Sector Union national assistant secretary Jason Hall said the closure decision was “outrageous”, leaving vulnerable people stranded.
“I think those people are disadvantaged, like the elderly or Indigenous communities or people with English as a second language, this is a real blow for them,” Mr Hall told the ABC.
WA Opposition and Nationals WA leader Shane Love said he had been given assurances by Bankwest that communities will be given the opportunity to transition to CBA customers with direct support.
“The proof of this good intent will come over time,” Mr Love said in a statement.
“At this point Bankwest and CBA have committed to continue employing their regional staff with CBA providing services in every community where a Bankwest branch has been present until now.”
He said that was in stark contrast to the decisions of other major banks which had stranded whole regions with no local banking services when branches have been pulled from communities.
